Franco Nevada (NYSE:FNV) Cut to Hold at ValuEngine

ValuEngine downgraded shares of Franco Nevada (NYSE:FNV) (TSE:FNV) from a buy rating to a hold rating in a report published on Thursday morning, ValuEngine reports.

Other equities analysts also recently issued reports about the company. Canaccord Genuity restated an average rating and set a $127.00 price target on shares of Franco Nevada in a report on Friday, July 19th. Raymond James raised their price target on Franco Nevada from $94.00 to $98.00 and gave the company an outperform rating in a report on Monday, July 22nd. BMO Capital Markets restated an average rating and set a $100.00 price target on shares of Franco Nevada in a report on Friday, April 5th. TD Securities raised their price target on Franco Nevada from $90.00 to $92.00 and gave the company a buy rating in a report on Friday, May 10th. Finally, Deutsche Bank set a $81.00 price target on Franco Nevada and gave the company a hold rating in a report on Thursday, July 11th. Ten investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $93.44.

Shares of NYSE:FNV traded up $2.44 on Thursday, hitting $91.98. 19,477 shares of the company traded hands, compared to its average volume of 515,325. Franco Nevada has a 52 week low of $58.26 and a 52 week high of $90.78. The company has a current ratio of 4.14, a quick ratio of 4.14 and a debt-to-equity ratio of 0.03. The business has a 50 day moving average price of $85.51. The company has a market capitalization of $16.76 billion, a P/E ratio of 78.53, a PEG ratio of 15.73 and a beta of 0.06.

Franco Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Wednesday, May 8th. The basic materials company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.07. Franco Nevada had a return on equity of 4.64% and a net margin of 21.16%. The firm had revenue of $179.80 million during the quarter, compared to the consensus estimate of $166.15 million. On average, equities analysts anticipate that Franco Nevada will post 1.42 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the business. Legacy Bridge LLC bought a new stake in shares of Franco Nevada during the 1st quarter valued at about $45,000. Advisory Services Network LLC grew its stake in shares of Franco Nevada by 42.1% during the 4th quarter. Advisory Services Network LLC now owns 729 shares of the basic materials company’s stock valued at $51,000 after purchasing an additional 216 shares during the period. Quadrant Capital Group LLC grew its stake in shares of Franco Nevada by 83.0% during the 1st quarter. Quadrant Capital Group LLC now owns 745 shares of the basic materials company’s stock valued at $55,000 after purchasing an additional 338 shares during the period. Legacy Advisors LLC bought a new stake in shares of Franco Nevada during the 1st quarter valued at about $58,000. Finally, Carroll Financial Associates Inc. bought a new stake in shares of Franco Nevada during the 1st quarter valued at about $64,000. Institutional investors and hedge funds own 65.23% of the company’s stock.

About Franco Nevada

Franco-Nevada Corporation operates as a gold-focused royalty and stream company in the United States, Canada, Latin America, Australia, and Africa. It also holds interests in silver and platinum group metals; and oil, gas, and natural gas liquids. The company was incorporated in 2007 and is headquartered in Toronto, Canada.

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